Engineers Gate Manager LP Acquires Shares of 10,777 The Madison Square Garden Company $MSGS

Engineers Gate Manager LP bought a new stake in The Madison Square Garden Company (NYSE:MSGS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,777 shares of the company’s stock, valued at approximately $4,331,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MSGS. California State Teachers Retirement System lifted its stake in shares of Madison Square Garden by 38,910.2% during the second quarter. California State Teachers Retirement System now owns 7,198,160 shares of the company’s stock valued at $2,892,509,000 after acquiring an additional 7,179,708 shares during the period. Price T Rowe Associates Inc. MD increased its position in Madison Square Garden by 67.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock worth $180,895,000 after purchasing an additional 282,318 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Madison Square Garden by 8.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company’s stock worth $167,739,000 after purchasing an additional 49,412 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Madison Square Garden by 1.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock valued at $158,654,000 after purchasing an additional 6,873 shares during the period. Finally, State Street Corp lifted its position in Madison Square Garden by 3.0% during the 4th quarter. State Street Corp now owns 538,404 shares of the company’s stock valued at $139,258,000 after purchasing an additional 15,656 shares during the period. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Trading Down 0.1%

NYSE:MSGS opened at $391.77 on Friday. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of 1,305.94 and a beta of 0.60. The stock has a 50-day moving average price of $394.88 and a two-hundred day moving average price of $362.15. The Madison Square Garden Company has a 1 year low of $207.90 and a 1 year high of $438.93.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.52. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%.The business had revenue of $278.75 million for the quarter, compared to analysts’ expectations of $227.67 million. During the same quarter in the previous year, the business posted ($0.07) EPS. Madison Square Garden’s revenue for the quarter was up 36.6% on a year-over-year basis. Sell-side analysts forecast that The Madison Square Garden Company will post -0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

MSGS has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Madison Square Garden from $450.00 to $485.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Zacks Research raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Morgan Stanley raised shares of Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 target price for the company in a report on Wednesday, July 15th. Seaport Research Partners upped their target price on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Finally, Guggenheim increased their price target on Madison Square Garden from $522.00 to $584.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Madison Square Garden has a consensus rating of “Hold” and a consensus target price of $471.20.

About Madison Square Garden

Madison Square Garden Sports Corp. is a professional sports and entertainment company headquartered in New York. The company owns and operates the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. Through these franchises, it manages team operations, ticketing, sponsorships, media rights, merchandising and other commercial activities connected with professional sports.

Madison Square Garden Sports also owns the Hartford Wolf Pack, a minor-league hockey team affiliated with the Rangers, and has been involved in esports through Knicks Gaming, its NBA 2K League team.